Interest Subsidy Eligibility Certificate (ISEC) Scheme
in West Bengal
Last updated:
Interest Subsidy Eligibility Certificate (ISEC) Scheme in West Bengal
Interest Subsidy Eligibility Certificate (ISEC) Scheme is a government scheme available to eligible residents of West Bengal.
Apply for Interest Subsidy Eligibility Certificate (ISEC) Scheme in West Bengal
Scheme Overview
The scheme aims to provide concessional working capital loans at 4% interest to khadi institutions through interest subsidy support.
Eligibility Criteria
- The applicant must be a khadi institution.
- The applicant must have a valid Khadi Certificate.
- The applicant must have a sanctioned khadi programme.
- The applicant must be registered with Khadi and Village Industries Commission (KVIC) or State Khadi and Village Industries Boards (KVIBs).
<br>
Benefits
**Interest Subsidy:** Loans available at a concessional interest rate of 4% per annum for working capital. - **Subsidy Support:** The difference between the actual bank interest rate and 4% is paid by the Central Government through the Khadi and Village Industries Commission (KVIC). - **Funding Support:** Helps bridge gap between required funds and budgetary allocation. - **Sector Coverage:** Applicable for khadi and polyvastra sector only.
<br>
Required Documents
| # | Document |
|---|---|
| 1 | Aadhaar Card. |
| 2 | Income certificate. |
| 3 | Caste certificate. |
| 4 | Bank account statement. |
How to Apply in West Bengal
Step 1: The applicant applies to the financing bank for working capital.
Offline Step 1: The applicant applies to the financing bank for working capital.
Step 2: The applicant submits the Interest Subsidy Eligibility Certificate issued by KVIC.
Offline Step 2: The applicant submits the Interest Subsidy Eligibility Certificate issued by KVIC.
Step 3: The bank sanctions working capital loan based on requirement.
Offline Step 3: The bank sanctions working capital loan based on requirement.
Step 4: The bank raises reimbursement claim for interest subsidy to the nodal branch.
Offline Step 4: The bank raises reimbursement claim for interest subsidy to the nodal branch.
Step 5: The subsidy amount is reimbursed through KVIC.
Offline Step 5: The subsidy amount is reimbursed through KVIC.
Common questions in West Bengal
Who can apply for Interest Subsidy Eligibility Certificate (ISEC) Scheme in West Bengal?
Eligible residents of West Bengal who meet the scheme’s overall criteria can apply for Interest Subsidy Eligibility Certificate (ISEC) Scheme. Refer to the eligibility section above for the complete checklist.
What documents are required for Interest Subsidy Eligibility Certificate (ISEC) Scheme in West Bengal?
Applicants in West Bengal typically need identity proof (Aadhaar), state residency proof, bank account details, and any scheme-specific documents listed in the documents section.
Frequently Asked Questions
Eligibility criteria may vary, but generally, Indian citizens pursuing professional or technical courses with a family income within specified limits are eligible for the scheme.